ELGI EQUIPMENTS LIMITED

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Balance sheet as at 31st March 2010 (Rs. In Million)

PARTICULARS Sch.No. 31.03.10 31.03.09

I SOURCES OF FUNDS 1 78.92 62.73

1) Shareholders' Funds: 2 2553.23 1934.19
a) Capital
b) Reserves and Surplus 2632.15 1996.92

2) Loan Funds: 3 26.62 0.00
a) Secured Loans
b) Unsecured Loans 4 0.95 0.00

3) Deferred Tax Liability 27.57 0.00

5 17.44 0.00

Total 2677.16 1996.92

II APPLICATION OF FUNDS 6 18.12 0.00
1) Goodwill
2) Fixed Assets: 1726.68 688.84 1580.94 655.10
1037.84 21.85 925.84 11.34
a) Gross Block
b) Less: Depreciation 142.99 142.99
c) Net Block 0.00 3.91
d) Capital Work in progress

3) Investments 7

4) Deferred Tax Assets 5

5) Current Assets, Loans & Advances 8 810.01 704.54
a) Inventories 906.64 814.30
b) Sundry Debtors (A) 1191.84 245.67
c) Cash and Bank balances 9
d) Other Current Assets 22.19 4.64
e) Loans and Advances (B) 1339.53 756.74
4270.21 2525.89
Less: Current Liabilities and Provisions
a) Liabilities 1365.88 627.39
b) Provisions 1130.92 744.55
2496.80 1371.94

Net Current Assets (A-B) 1773.41 1153.95
10
6) Miscellaneous Expenditure: 31.95 29.63
(to the extent not written off 2677.16 1996.92
or adjusted)
Intangible Assets

Total

The Schedules referred to above Accounting Policies and the Notes thereon form an integral part of the Balance Sheet.

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ N. MOHAN NAMBIAR For RJC ASSOCIATES
Managing Director Director Regn. No. : 003496S
Chartered Accountants
Coimbatore S. RAVEENDAR S.SRIRAM
28.10.2010 Company Secretary Chief Financial Officer R. JAYACHANDRAN
Partner
Membership No.021848

50

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Profit and Loss Account For The Year ended 31st March 2010

(Rs. In Million)

PARTICULARS Sch.No. 31.03.10 31.03.09

INCOME 7141.14 5955.39
Gross Sales 371.57 424.58
Less : Excise Duty

Net Sales 6769.57 5530.81

Other Income 11 37.58 59.29
Interest (Expenditure) / Income
12 43.92 8.48

Total Income (A) 6851.07 5598.58

EXPENDITURE 13 4086.30 3435.09
14 642.18 528.93
Materials Consumed 15 993.43 890.07
Salaries, Wages, Bonus, Gratuity, etc 97.13 82.74
Other Expenses (B) 10.51 7.68
Depreciation
Amortisation of Intangible Assets 5829.55 4944.51

Total Expenditure

PROFIT BEFORE TAX & (A-B) 1021.52 654.07
EXTRA-ORDINARY ITEMS

EXPENDITURE (C) 81.08 0.00
VRS - Compensation

PROFIT BEFORE TAX & AFTER (A-B-C) 940.44 654.07
EXTRA-ORDINARY ITEMS
339.87 219.11
Provision for Tax 21.34 20.68
Deferred Tax Liability 0.00
Fringe Benefit Tax 6.86
579.23
PROFIT AFTER TAX 407.42

Profit Brought Forward 1118.43 849.13
Prior Year Adjustments (0.01) (2.72)
Transfer on Amalgamation (refer Notes on Accounts : B.(1))
(290.08) 0.00

PROFIT AVAILABLE 1407.57 1253.83
FOR APPROPRIATION

APPROPRIATIONS 144.75 81.54
Dividend 24.60 13.86
Dividend Tax 56.00 40.00
Transfer to General Reserve 1118.43
Profit Carried to Balance Sheet 1182.22
1253.83
TOTAL 1407.57
( In Rs.)
Earnings per share ( In Rs.) 1.00
Nominal value of share 1.00 6.49
Basic 7.34 5.21
Diluted 7.34

The Schedules referred to above Accounting Policies and the Notes thereon form an integral part of the Profit and Loss Account.

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ N. MOHAN NAMBIAR For RJC ASSOCIATES
Managing Director Director Regn. No. : 003496S
Chartered Accountants
Coimbatore S. RAVEENDAR S.SRIRAM
28.10.2010 Company Secretary Chief Financial Officer R. JAYACHANDRAN
Partner
Membership No.021848

51

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Schedules To Balance Sheet and Profit and Loss Account (Rs. In Million)
as at 31st March 2010
31.03.09
PARTICULARS 31.03.10

1 SHARE CAPITAL

AUTHORISED CAPITAL 215.00 100.00
21,50,00,000 Equity Shares of Re.1/- each 0.00
0.00
55,00,000 12% Cumulative Redeemable Preference 55.00
Shares of Re.10/- each 30.00 100.00

30,00,000 5% Redeemable Preference Shares of Re.10/- each 60.00

ISSUED, SUBSCRIBED AND PAID UP CAPITAL 300.00 0.00
FULLY PAID UP 78.16
7,81,59,043 Equity Shares of Re.1/- each issued and subscribed 2.73
(Out of the above 4,87,50,000 Shares were issued as 62.73
Bonus Shares by Capitalization of Reserves)

Share Capital Suspense Account [Refer Notes on Accounts : B.(1)] 0.76
7,62,600 Equity Shares of Re.1/- each to be issued

PARTLY PAID UP 0.00
15197 Shares @ Rs.0.15 per Share 78.92

2 RESERVES AND SURPLUS

CAPITAL RESERVE

Share of reserve on account of revaluation of assets

of a firm in which the Company is a partner 29.65 29.65
0.00
Add: Reserve on Amalgamation 151.76

[Refer Notes on Accounts : B.(1)] 181.41 29.65
0.00
Capital Redemption Reserves
440.79
Transfer on Amalgamation 5.49 0.00

SHARE PREMIUM ACCOUNT

As per the last Balance Sheet 173.29 173.29
0.00
Add: Call money amount received during the year 216.09 0.00

Tranfer on Amalgamation 51.41

[Refer Notes on Accounts : B.(1)] 173.29

Statutory Reserve: (As Per RBI Norms)

Transfer on Amalgamation [Refer Notes on Accounts : B.(1)] 0.00

GENERAL RESERVE 618.94 743.32 578.94 612.82
As per the last Balance Sheet 56.00 40.00
Add: Transfer from Profit and Loss Account 80.56 0.00

Tranfer on Amalgamation 755.50 618.74
[Refer Notes on Accounts : B.(1)] (4.16) 2.36
Add: Exchange fluctuation Reserve 751.34
621.10
Less: Loss incurred by subsidiary after the acquisition 8.02 8.48
SURPLUS
Balance as per Last Balance Sheet 1118.43 849.13
289.14 404.70
Add :Profit during the year 225.35 135.40
Less:Appropriations during the year

1182.22 1118.43
2553.23 1934.19

52

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Schedules To Balance Sheet and Profit and Loss Account (Rs. In Million)
as at 31st March 2010
31.03.09
PARTICULARS 31.03.10

3. SECURED LOANS 26.62 0.00
Loans and advances from banks 26.62 0.00
Open Loan
0.95 0.00
4. UNSECURED LOANS 0.95 0.00

Fixed Deposit

5. DEFERRED TAX LIABILITY / (ASSETS) (4.79) (24.58)
22.23 20.67
As per the last Balance Sheet 17.44 (3.91)
Add / Less - for the Year

6. FIXED ASSETS

GROSS BLOCK DEPRECIATION NET BLOCK

Description of As During the year As As During the year As As As
Assets
at at at at at at
Land
01/04/09 Additions Deductions 31/03/10 01/04/09 Additions On revalued Deductions 31/03/10 31/03/10 31/03/09

23.29 47.64 0.00 70.93 0.00 0.00 0.00 0.00 0.00 70.93 23.29

Buildings - Actual 198.92 2.12 0.00 201.04 110.75 8.06 0.00 0.00 118.81 82.23 88.17
- Revaluation 17.73 17.73 9.29 0.42 9.72 8.01 8.44

Plant&Machinery 1223.64 78.63 1.90 1300.37 727.01 86.93 0.00 1.84 812.10 488.27 496.63

Furniture&Office 105.01 27.22 7.95 124.28 72.82 24.76 0.00 7.72 89.86 34.42 32.19
Equipments

Electrical Fittings 0.61 0.00 0.01 0.60 0.12 0.09 0.00 0.00 0.21 0.39 0.49

Motor Vehicle 5.71 0.03 0.04 5.70 3.30 0.43 0.00 0.04 3.69 2.01 2.41

Canteen Equipments 2.68 0.00 0.00 2.68 1.46 0.23 0.00 0.00 1.69 0.99 1.22

Intengible Assets- 3.35 0.00 0.00 3.35 1.08 0.68 0.00 0.00 1.76 1.59 2.27
Technical Knowhow

Grand Total 1580.94 155.64* 9.90 1726.68 925.83 121.18 0.42 9.60 1037.84 688.84 655.11

Previous Year 1383.22 240.25 42.53 1580.94 874.45 83.19 0.00 31.80 925.84 655.10 508.77

Note : Addition include asset taken over on amalgamation
Refer notes on accounts : B(1)

53

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Schedules To Balance Sheet and Profit and Loss Account

as at 31st March 2010 (Rs. In Million)

PARTICULARS No. of Face Value 31.03.10 No. of 31.03.09
7. INVESTMENTS (AT COST) Share / Units per Share / Unit Share / Units

LONG TERM

NON-TRADE QUOTED EQUITY SHARES (FULLY PAID)

Lakshmi Machine Works Ltd 50 10.00 0.01 50 0.01
State Bank of India 300 10.00 0.12 300 0.12
HDFC Bank Limited 500 10.00 0.01 500 0.01
HDFC Limited 2400 10.00 0.03 2400 0.03
Magna Electro Castings Ltd 80000 10.00 1.25 80000 1.25
Rajshree Sugars & Chemicals Ltd 229000 10.00 7.55 229000 7.55
Pricol Ltd 94245 0.54 94245 0.54
L.G.Balakrishnan & Bros.Ltd. 1248 1.00 0.02 12480 0.02
LGB Forge Limited 12480 10.00 0.01 12480 0.01
Treadsdirect Limited 2182000 5.30 2182000 5.30
Elgi Rubber Company Ltd 1091000 1.00 2.65 1091000 2.65
1.00 17.49 17.49
Total[A] 1.00

NON-TRADE UNQUOTED EQUITY SHARES (FULLY PAID)

Coimbatore Pvt. Industrial Estates Ltd., 0 1000 0.00 77 0.00

The Mill Officers Co-Op Housing Colony 50.00
10.00
Ltd.,Ahmedabad 5 100.00 0.00 5 0.00
0.99 99300 0.99
Elgi Securities Ltd 99300 0.11 1053 0.11
1.10 1.10
Marol Co-operative Industrial Estate Ltd 1053

Total[B]

INVESTMENTS IN PARTNERSHIP FIRMS

L.G.Balakrishnan & Bros (Share 98%) 124.00 124.00
0.40 0.40
Elgi Services (Share 80%)
124.40 124.40
Total[C]

Grand Total -[A+B+C] 142.99 142.99

[Total Cost of Quoted Securities Rs.17.49 million (Previous year Rs.17.49 million) and
Total Market value of quoted Securities Rs.51.53 million (Previous year Rs.44.66 million)]

54

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Schedules To Balance Sheet and Profit and Loss Account (Rs. In Million)
as at 31st March 2010
31.03.09
PARTICULARS 31.03.10

8. CURRENT ASSETS, LOANS AND ADVANCES

a) INVENTORIES 493.05 429.24
Raw Materials and Components 100.55 93.66
Work-in-progress 191.46
Finished Products 164.24
Consumables Spares and Stores 4.49 3.21
Loose tools 20.46
810.01 14.19
b) SUNDRY DEBTORS 704.54
(Unsecured and considered good) 84.09
Debts outstanding for a period exceeding 6 months 822.55 114.31
Other Debts 906.64 699.99
814.30

c) CASH AND BANK BALANCES 0.58 0.53
Cash on Hand 172.84 132.02
With Scheduled Banks 1018.42 113.12
-in Current Accounts
-in Deposit Accounts 1191.84 245.67
(Includes Rs.11.59 million (Previous year
Rs.9.44 million) with bank as margin money

d) OTHER CURRENT ASSETS 22.19 4.64
Interest accrued 22.19 4.64

e) LOANS AND ADVANCES
(Unsecured and considered good)

Advances recoverable in cash or 100.00 0.65
in kind or for value to be received. 291.79 146.20
Loans to Companies
Others 12.39 7.19
Prepaid Expenses 863.34 557.75
Advance Payment of Income Tax
Security and Other Deposits 28.30 32.16
Income/Refund receivable 43.71 12.79
1339.53 756.74

55

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Schedules To Balance Sheet and Profit and Loss Account (Rs. In Million)
as at 31st March 2010
31.03.09
PARTICULARS 31.03.10

9. CURRENT LIABILITIES AND PROVISIONS 190.61 109.74

a) CURRENT LIABILITIES 124.60 80.62
736.17 335.88
Acceptances 311.52
Sundry Creditors 98.44
Micro, Small and Medium Enterprises 2.98 2.71
Others 1365.88
Advance and Deposits from Customers and Others 627.39
Unclaimed Dividends 849.36
15.15 510.15
b) PROVISIONS 97.70 20.55
16.60 81.54
Provision for Taxation 13.86
Fringe Benefit Tax 152.11 118.45
Proposed Interim Dividend
Provision for Dividend Tax 1130.92 744.55
Provision for Employee Benefits

10. MISCELLANEOUS EXPENDITURE 27.79 15.68
14.67 21.63
Intangible Assets 10.51
Opening Balance 7.68
Add: Addition during the year 31.95
Less: Amortised during the year 29.63
1.23
11. OTHER INCOME 0.00 1.32
13.88 1.08
Profit on Sale of Assets 4.10 12.94
Profit on Sale of Investments 4.52
Royalty Receipts 17.44
Rent Receipts (TDS Rs.1.04 million) 0.00 10.78
0.93 27.95
(Previous Year Rs.1.39 million)
Others 37.58 0.70
Gain on Exchange Fluctuation 59.29
Dividend Receipts

12. INTEREST (EXPENDITURE)/INCOME 44.45 9.95

Interest Receipts (TDS-Rs. 1.77 million) 44.45 9.95
(Previous Year Rs.1.89 million)
0.53 0.00
Less:Interest Expenditure 0.00 1.47
Term Loans 43.92 8.48
Others
(A) 429.24 345.67
13. MATERIALS CONSUMED (B) 93.66 87.80

Opening Stock 164.24 259.74
-Raw Materials 687.14 693.21
-Semi-Finished Products 4184.22 3429.02
-Finished Products
Opening Stock
Purchases

56

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Schedules To Balance Sheet and Profit and Loss Account

as at 31st March 2010 (Rs. In Million)

PARTICULARS 31.03.10 31.03.09

Closing Stock

-Raw Materials 493.05 429.24
100.55 93.66
-Semi-Finished Products 191.46
785.06 164.24
-Finished Products 4086.30 687.14
3435.09
Closing Stock (C)

Materials Consumed (A+B-C)

(Material consumed includes Machining Charges of

Rs.61.01 million) (Previous Year Rs.52.81 million)

14. SALARIES, WAGES, BONUS, GRATUITY ETC., 420.59 357.73
Salaries and Wages 3.96 4.15
Bonus
Performance Pay 89.50 48.40
Profit Share 26.61 31.60
Gratuity
Contribution to PF and other Funds 9.73 8.94
Managing Director's Remuneration 30.34 23.66
Welfare Expenses
8.73 8.47
15. OTHER EXPENSES 52.72 45.98
642.18 528.93
Consumption of Stores spares
Power,Fuel & Lighting 37.44 31.11
Factory Expenses 53.66 48.47
Tools Consumed 13.47 13.28
Repairs and Maintenance of 47.31 45.57

-Building 33.42 17.22
-Machinery 55.04 38.64
-Vehicle
-Other Assets 0.39 0.00
Rent 13.97 14.53
Rates & Taxes 20.55
Printing & Stationery 7.38
Postage, Telegrams & Telephones 5.10 5.91
Travelling & Conveyance 9.99 8.96
Subscription, Periodicals & Filing Fees 13.01 12.99
Insurance 95.90 90.42
Donation 2.64 1.18
Legal and Professional Charges 5.00 6.09
Auditors' Remuneration 21.81 25.34
-Audit Fees 27.54 22.46
-Other Services
Miscellaneous Expenses 1.31 0.64
After Sales Expense 0.19 0.21
Research & Development Expenses 35.90 44.92
Directors' Sitting Fees 78.22 62.71
Advertisement & Publicity 39.35 32.12
Transport Charges 0.86 0.82
Packing Material 13.11 23.87
Commission & Discount 84.57 89.14
Royalty Payment 103.67 85.06
Sales Tax Payments 118.87 95.22
Service Tax Payments 3.01 2.68
Loss on Sale of Assets 2.21 0.00
Bad Debts Written off 0.11 0.34
Loss on Exchange Fluctuation 0.06 0.13
Assets Condemned & Written-Off 8.06 27.22
Excise duty Payments 13.92 0.06
Bank Charges 0.13 0.00
21.73 21.25
11.91 14.13
993.43 890.07

57

ANNUAL REPORT 2007-08 CONSOLIDATED FINANCIAL STATEMENTS

Accounting Policies and Notes on Accounts

A. ACCOUNTING POLICIES iii. As far as possible, the Consolidated
Financial Statements are prepared using
Significant Accounting Policies to the uniform accounting policies for like
Consolidated Balance Sheet and Profit and Loss transactions and other events in similar
Account. circumstances and are presented in the
same manner as the Company's separate
1) Basis of Accounting financial statements.

The Company maintains its accounts on accrual iv. Foreign Currency Translation
basis following the historical cost convention in
accordance with Generally Accepted Accounting Indian Rupees is the reporting currency for
Principles ("GAAP") and in compliance with the the Group. However, the local currency of
provisions of the Companies Act,1956 and the overseas subsidiaries is different from the
Accounting Standards (as specified in the reporting currency of the Group. All the
Companies (Accounting standards) overseas subsidiaries have been classified
Rules,2006,prescribed by the Central as non-integral operation according to
Government). Accounting Standard 11. In respect of
overseas subsidiaries, all the assets and
The accounts of all the Subsidiaries and Joint liabilities are translated using exchange rate
Venture have been prepared in compliance with prevailing at the Balance Sheet date.
the Accounting standards as specified in the Revenue, cost and expenses are translated
Companies (Accounting standards) using average exchange rates of the foreign
Rules,2006,prescribed by the Central currency gain/loss has been disclosed as
Government, and have been prepared in "Foreign Currency Translation Reserves &
compliance with the local laws and applicable Surplus.
Accounting Standards. .
v. Intangible Assets and Amortisation
2) Principles of Consolidation:
In case of Parent and its Subsidiaries,
The Consolidated Financial Statements relate to expenditure towards intangible assets up to
Elgi Equipments Limited ("the Company") and its 31st March 2010 in the book of Subsidiaries
subsidiary companies. The Consolidated are expensed out as revenue expenditure
Financial Statements have been prepared on the and are being amortized over a period of time
following basis. (maximum five years) in the Consolidated
Financial Statements depending upon the
i. The financial statement of the Company and nature of the expenditure and evaluation of
its Subsidiary Companies are combined on a future benefits there from.
line-by-line basis by adding together the
book values of like items of assets, liabilities, 4. Uniform Accounting Policies
income and expenses, after fully eliminating
intra-group balances and intra-group The Consolidated Financial Statements of Elgi
transactions resulting in unrealized profit or Equipments Limited and its subsidiary and Joint
losses in accordance with the Accounting Venture have been prepared using uniform
Standard (AS) -21 "Consolidated Financial accounting policies for like transactions and other
Statements" issued by the Institute of events in similar circumstances.
Chartered Accountants of India.
5 Investments other than in subsidiaries and
ii. Investments in Joint Ventures are accounted associates have been accounted as per
for by using the proportionate consolidation Accounting Standard 13 on Accounting for
method laid down in Accounting Standard Investments.
(AS) - 27 on "Financial Reporting of interests
in Joint Ventures" Inter-Company 6. Other Significant Accounting Policies:
transactions and balances are eliminated to
the extent of the Company's interest in the These are set out under "Notes on Accounts " as
joint venture. given in the Unconsolidated Financial
Statements of Elgi Equipments and its
For the purpose of consolidation, the Subsidiaries.
Financial Statements of the Subsidiaries and
Joint Venture are drawn up to and as on 31st
March 2010.

58

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

B. NOTES ON ACCOUNTS

The Notes forming part of Consolidated Financial Statements for the year ended 31/03/10.

1. The Subsidiary Companies considered in the Consolidated Financial Statements are:

S.No Name of the Subsidiary Country of % of Reporting Difference in
incorporation Owner ship Date Reporting Date
1 ATS Elgi Limited
India 100 31/03/10 -
2 Adisons Precision
Instruments Manufacturing India 100 31/03/10 -
Company Limited
Gulf 100 31/03/10 -
3 Elgi Gulf (FZE ) China 100 31/03/10 -

4 Elgi Equipments China 100 31/03/10 -
(Zhejiang) Limited
France 100 31/03/10 -
5 Elgi Compressors
Trading(Shanghai) Ltd

6 SA Belair - France

2. Joint Venture Company

Elgi Sauer Compressors Limited India 26 31/03/10. -

3. The value of Investments made in the wholly owned Subsidiary Companies have been accounted in
Compliance with Accounting Standard (AS-21 & AS- 27).

4. Other Notes Forming Part of Accounts:

These are set at in and under schedules and notes forming part of the accounts for the year ended 31/03/2010.
as given in unconsolidated Financial Statements of Elgi Equipments Limited and its Subsidiaries.

59

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

5. Summary of Financial Information of Subsidiary Companies Rs in Millions

Name of the Subsidiary ATS Elgi Adisons Elgi Gulf Elgi Elgi SA Belair
Limited Precision (FZE) Equipments Compressors - France
Instruments ZHEJIANG
Mfg.Co.Limited Trading
Limited (Shanghai)

Co.Ltd

Reporting Currency IND IND DHS RMB RMB Euro
Exchange Rate - - 11.92 6.59 6.59 60.80
Funds Employed :
A.Capital 0.90 0.52 1.78 55.66 22.75 44.98
B.Reserves 270.90 10.10 7.27 (40.82) (7.02) (2.42)
Loans 26.62
Deferred Tax Liability 0.00 - - 13.49 -
Total Liabilities 0.00 - - - - -
C.Total Funds Employed 271.80 10.62 9.05 15.73 69.18
D.Assets 28.33
Net Block ( including 29.32 8.12 0.32 0.09 2.18
Capital WIP) 3.21
Investments - 0.11 - - -
Defered Tax Asset 4.37 -- - - -
Net Current Assets 238.11 - 15.64 42.51
Miscellaneous Expenditure 2.39 8.73 14.18 - -
to the extend not written off - -- 10.94

Total Assets ( Net) 271.80 10.62 9.05 28.33 15.73 69.18
E.Turnover 892.44 0.12 59.00 21.06 15.46 30.76
F. Profit before Taxes 0.01 (33.83) (4.93) (0.49)
G.Provision for Taxation 76.80 - 6.68
H.Profit after Taxes 26.10 0.01 - - - -
I. Proposed Dividend 50.70 - (33.83) (4.93) (0.49)
6.68
- - - - -

The annual accounts of the above Subsidiary Companies are available for inspection by any shareholder at the
registered office of the Holding and Subsidiary Companies.

60

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

6) SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED (Rs. In Million)

3 months Corresponding Year to Date Previous
Accounting
PARTICULARS ended 3 months figures for year ended
31/03/2009
31/03/2010 ended current period
Audited
31/03/2009 ended

31/03/2010

Audited Audited Audited

Segment Revenue 17675.1 11570.0 58280.1 47030.0
(Sales and income from Services) 2381.5 1900.0 8863.5 7325.0
a) Compressors 321.9 690.9 1083.0
b) Automotive Equipments 203.0
c) Others 20378.5 13673.0 67834.5 55438.0
Total Segment Revenue
Less: Inter Segment Revenue 20378.5 13673.0 67834.5 55438.0
Net Sales/Income from Operations

Segment Results

(Profit before Interest and Tax)

a) Compressors 2509.6 1529.0 9005.6 5917.0
(144.0) 978.2 283.0
b) Automotive Equipments 257.2
(68.0) (207.6) (208.0)
c) Others 49.4 1317.0 9776.2 5992.0

Total Segment Results 2816.2 (13.0) (439.0) (85.0)
(44.0) 0.0 (464.0)
Less:
0.0 811.0 0.0
i) Interest Expense (159.0) 1374.0 9404.2 6541.0

ii) Unallocable expenditure net of other income 193.0

iii) Extra-ordinary items 811.0

Total Profit Before Tax 1971.2

Capital Employed 21105.7 14453.0 21105.7 14453.0
(Segment Assets less Segment Liabilities) 2682.7 2470.0 2682.7 2470.0
a) Compressors 1051.3 1300.0 1051.3 1300.0
b) Automotive Equipments
c) Others 24839.7 18223.0 24839.7 18223.0
Total Capital Employed in Segments
Add:Unallocable Corporate Assets 1612.4 1450.0 1612.4 1450.0
less Corporate Liabilities 26452.1 19673.0 26452.1 19673.0
Total Capital Employed in Company

Previous period figures have been regrouped wherever necessary. The accuracy and granularity of allocation
of expenditure has improved and consequently the expenditure hitherto shown as unallocable has been
allocated to the respective business.

Place: Coimbatore For and on behalf of the Board of Directors
Date : 28.10.2010
Dr. Jairam Varadaraj
Managing Director

7) The Previous year's figures have been regrouped or reclassified wherever necessary to confirm to the current
year's classification.

61

ANNUAL REPORT 2009-10 CONSOLIDATED FINANCIAL STATEMENTS

Cash Flow Statement (Rs. In Million)
31.03.2009
Particulars 31.03.2010

A.CASH FLOW FROM OPERATING ACTIVITIES: 940.44 654.07
Net Profit Before Tax (0.01) (2.72)
Add: Prior Year Adjustments
97.13
0.13 940.43 651.35

Adjustments for: (1.17) 81.72 82.74 130.54
Depreciation 10.51 1022.15 10.22 781.89
Assets Condemned and Written off (1.19)
(Profit)/Loss on sale of assets 0.00 276.09 (238.63)
Deferred Revenue expenditure & VRS compensation 0.00 1379.32 7.68 543.26
(Profit)/Loss on sale of Investments 8.06 (357.17) (1.08)
(Profit)/Loss on sale of Auctionable claims 12.44 1379.32
Bad debts written off (0.93) 5.98
Interest and Bank Charges Paid (44.45) 21.24
Dividend Received 15.60
Interest Received (601.39) (0.70)
Operating Profit Before Working Capital Changes (105.47) (9.95)
Adjustments for:
Trade and Other Receivables (12.83) 266.58
Inventories 1076.86 2.42
Deferred Revenue Expenditure
Trade Payables (11.91) (21.63)
Cash Generated From Operations (314.12) (486.00)

Cash Generated from Operations (14.13)
Bank Charges Paid (192.70)
Direct Taxes Paid

Net Cash From Operating Activities (A) (206.83)
336.43

B.CASH FLOW FROM INVESTING ACTIVITIES

Purchases of Fixed Assets (B) (163.50) (233.71)
Sale of Fixed Assets 1.47 1.69
Sale of Investments 0.00 1.07
Loans to Companies
Interest Received (99.35) 55.50
Dividend Received 44.45 9.95
Net Cash Used in Investing Activities 0.93 0.70

(216.00) (164.80)

C.CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Issue of Share Capital 16.19 0.00
Proceeds from Issue of Share Premium 216.09 0.00
Proceeds from Short Term Borrowings 0.00
Interest Paid 27.57 (1.47)
Dividend Paid (0.53) (44.04)
(150.44)

Net Cash Used in Financing Activities (C) 108.88 (45.51)
946.17 126.12
NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C) 245.67 119.55
1191.84 245.67
OPENING BALANCE OF CASH AND CASH EQUIVALENTS

CLOSING BALANCE OF CASH AND CASH EQUIVALENTS

Note:Figures within Bracket denote Cash Outflow.

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ N. MOHAN NAMBIAR For RJC ASSOCIATES
Managing Director Director Regn. No. : 003496S
Chartered Accountants
Coimbatore S. RAVEENDAR S.SRIRAM
28.10.2010 Company Secretary Chief Financial Officer R. JAYACHANDRAN
Partner
Membership No.021848

62

ANNUAL REPORT OF
SUBSIDIARY COMPANY

ATS ELGI LIMITED

CHAIRMAN
Dr.Jairam Varadaraj

MANAGING DIRECTOR
Mr. Harjeet Singh Wahan

DIRECTOR
Mr. M.Ramprasad

AUDITORS
M/s. RJC Associates
Chartered Accountants
Coimbatore

REGISTERED OFFICE
S2/A11, Pollachi Main Road,
Kurichy Private Industrial Estate
Kurichy, Coimbatore - 641 021.
Ph : 0422 - 2589999
Fax : 0422 - 2589800

Contents 60 - 62
63 - 65
1 Directors' Report 66 - 78
2 Auditor's Report
3 Annual Accounts

63



ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Directors' Report

Dear Shareholders

Your directors are pleased to submit the 3rd Annual Report with the Audited Annual Accounts of the Company for the
year ended 31st March, 2010.

(Rs. In Million)

Particulars 31-03-2010 31-03-2009

Profit before depreciation and tax 80.419 31.044
Less: Depreciation 3.617 2.722
Profit After depreciation
Less: Provision for Tax (Net of Deferred Tax) 76.802 28.322
Profit After Tax 26.100 11.415
The Directors recommend the following appropriations: 50.702 16.907
Transfer to General Reserve
Balance Carried to Balance Sheet - -
50.702 16.907

Performance for the year Our business ties with MAHA Germany to supply
MAHA lifts to its customers have been finalized and
The company had improved its sales over the this will also bring us sizeable exports. This tie-up will
previou's year as the Auto Industry gained momentum be formally executed through agreements.
for the year under review. Sales have grown by 20%
over the previous year and PBT grew by 2.5 times over 1) Dividend: No Dividend has been recommended
the previous year due to increase in sales. for the financial year 2009-10

Future plans 2) Directors: Mr.Ramprasad, Director of your
Company retires by rotation at the ensuing Annual
The Auto Industry had few new model launches by the General Meeting and being eligible seeks
car manufacturers due to buoyant market conditions. reappointment.
All the leading car manufacturers have planned to
setup new garages and increase the capacity of 3) Auditors: The Auditors M/S RJC Associates,
garages to cater to their service needs. This will help Chartered Accountants retire at the ensuing
bring us a sizeable amount of sales and gain market Annual General Meeting and are eligible for
share. reappointment.

During the year 2010-11, we are planning to increase 4) Fixed Deposits: The Company has not accepted
our sales through new products such as Auto Car any deposits from the public during the year.
Washer, Centralized Lube Management System,
Fume Extraction System and Invertors Welders . 5) Directors' Responsibility Statement.

In the lifting equipment category we are planning few The Board of Directors confirms
new products which are under validation, and will be
progressively launched. In terms of Section 217 (2AA) of the Companies
Act, 1956,
International
the Board of Directors confirms;
In the International market our sales had a marginal i. that in the preparation of the annual accounts,
increase by 4% over the previous year, this we feel
may go up in coming year, as there are steady growth the applicable accounting standards had
in Middle East countries and African countries. been followed along with proper explanation
relating to material departures;
We also expect a sizeable portion of market in
Bangladesh since we have ventured into this market ii. that the directors had selected such
this year. accounting policies and applied them
consistently and made judgments and
estimates that are reasonable and prudent so
as to give a true and fair view of

65

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

- The state of affairs of the company as on iv that the Directors have prepared the annual
31st March, 2010. accounts on a "going concern" basis.

- The profit of the company for the year Acknowledgements
ended on that date.
The Board appreciates the support rendered by the
iii. that the directors had taken proper and Customers, Suppliers, and Dealers, Banks Financial
sufficient care for the maintenance of Institution and Investors and the faith reposed by the
adequate accounting records in accordance share holders on the Company.
with the provisions of the Companies Act for
safeguarding the assets of the Company and The Board also thanks the employees for their
for preventing and detecting fraud and other dedicated and sincere services.
irregularities.
For and on behalf of the Board
Place : Coimbatore
Date : 29.04.2010 Dr. JAIRAM VARADARAJ
Chairman

Annexure to the Directors' Report

I. Statement containing particulars pursuant to B. TECHNOLOGY ABSORPTION
the Companies (Disclosure of particulars in
the Report of Board of Directors) Rules, 1988 1) Auto car wash system was developed to wash
and forming part of the Directors' Report. all the passenger cars with an objective to
reduce the cleaning time & water
A. CONSERVATION OF ENERGY consumption. This product is under the field
validation.
This year we have carried out following energy
conservation and cost savings activities in the 2) Dual Car parking lifts has been developed,
company. which will double the parking capacity. This
product is under validation.
Machine Shop : - Connection modification were
carried out in the power supply to Lathe & CNC 3) Two post hydraulic lift was developed for
machines for appropriate consumption of power servicing of all passenger cars up to 4 ton
and timer devices installed for reducing capacity. It is under the pilot validation & same
unproductive power consumption. will be launched from Nov 2010.

General & Other utilities: Replacements of 4) Centralized Lubrication system with
metal halide lights with compact fluorescent electrically operated grease pump is under
Lights (CFL) to reduce power consumption and development for dumper application and will
installation of timer devices for air conditioners in be put in field validation around Oct'10.
Corporate and office building.
C. Foreign Exchange Earnings and outgo are
given in the notes forming part of accounts.
Kindly refer the same.

II. Statement annexed to Director's Report showing the names and other particulars of every employee of
the company pursuant to section 217(2A) of the Companies Act, 1956, read with the Companies
(Particulars of Employees) Rules 1975.

Name Age Designation Remuneration Qualification Experience Date of Previous
(Rs. In Million) Joining Employment

Sri. Harjeet Singh Wahan 60 Managing 5.854 B.E.(Elec,), 36 years 01/08/2007 Elgi
Director
D.B.M Equipments Ltd

Place : Coimbatore For and on behalf of the Board
Date : 29.04.2010
Dr.JAIRAM VARADARAJ
Chairman

66

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Auditors' Report b) In our opinion, proper books of account as
required by law have been kept by the
REPORT TO THE MEMBERS OF ATS ELGI LIMITED Company so far as appears from our
examination of those books;
I) We have audited the attached Balance Sheet of
ATS Elgi Limited as at 31st March 2010, the Profit c) The Balance Sheet, Profit and Loss Account
and Loss account and also the Cash Flow and Cash Flow Statement dealt with by this
Statement of the Company for the year ended on report are in agreement with the books of
that date annexed thereto. These financial account;
statements are the responsibility of the Company's
management. Our responsibility is to express an d) In our opinion, the Balance Sheet, Profit and
opinion on these financial statements based on our Loss Account and Cash Flow Statement dealt
audit. with by this report comply with the Accounting
Standards referred to in sub-section (3C) of
II) We conducted our audit in accordance with the Section 211 of the Companies Act, 1956;
auditing standards generally accepted in India.
Those standards require that we plan and perform e) On the basis of the written representations
the audit to obtain reasonable assurance about received from the Directors, as on 31st March
whether the financial statements are free of 2010 and taken on record by the Board of
material misstatement. An audit includes Directors, we report that none of the directors of
examining, on a test basis, evidence supporting the Company is disqualified as on 31st March
the amounts and disclosures in the financial 2010 from being appointed as a Director in
statements. An audit also includes assessing the terms of clause (g) of sub-section (1) of section
accounting principles used and significant 274 of the Companies Act, 1956;
estimates made by management, as well as
evaluating the overall financial statement f) In our opinion and to the best of our information
presentation. We believe that our audit provides a and according to the explanations given to us,
reasonable basis for our opinion. the said accounts give the information required
by the Companies Act, 1956, in the manner so
III) As required by the Companies (Auditor's Report) required and give a true and fair view in
Order, 2003 and as amended by the Companies conformity with the accounting principles
(Auditor's Report) amendment order,2004 issued generally accepted in India:
by the Central Government of India in terms of
Sub-Section (4A) of Section 227 of the Companies 1) In the case of the Balance Sheet, of the
Act, 1956, we enclose in the Annexure a statement state of the affairs of the Company as at
on the matters specified in paragraphs 4 and 5 of 31st March 2010;
the said Order.
2) In the case of the Profit and Loss Account,
IV) Further to our comments in the Annexure referred of the profit for the year ended on that date;
to above, we report that: and

a) We have obtained all the information and 3) In the case of Cash Flow Statement, of the
explanations, which to the best of our cash flows for the year ended on that date.
knowledge and belief were necessary for the
purposes of our audit; For RJC ASSOCIATES
Regn. No. : 003496S
Place : Coimbatore Chartered Accountants
Date : 29.04.2010
R. JAYACHANDRAN
Partner
Membership No.021848

67

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Annexure to the Auditors' Report : (b) In our opinion and according to the
information and explanations given to us, the
Referred to in paragraph 3 of our report of even date, transactions made in pursuance of contracts
or arrangements exceeding rupees five lakh
I) (a) The Company has maintained proper records each have been made at prices which are
showing full particulars including quantitative reasonable having regard to prevailing
details and situation of fixed assets. market prices at the relevant time.

(b) All the assets have been physically verified by VI. The Company has not accepted any deposits
the management during the year. No material from public and hence provisions of para VI of the
discrepancies were noticed on such said order are not applicable.
verification.
VII. In our opinion, the Company has an internal audit
(c) No substantial part of fixed assets were system commensurate with the size and nature of
disposed off during the year, hence it will not its business.
have any effect on the going concern
assumptions. VIII. We have broadly reviewed the books of account
relating to materials, labour and other items of
II) (a) The inventory has been physically verified cost maintained by the Company pursuant to the
during the year by the management. In rules made by the Central Government for the
our opinion, the frequency of verification is maintenance of cost records under section 209
reasonable. (1) (d) of the Companies Act, 1956 and we are of
the opinion that prima facie the prescribed
(b) In our opinion, the procedures of physical accounts and records have been made and
verification of inventories followed by the maintained.
management are reasonable and adequate in
relation to the size of the company and the IX. (a) According to the information and explanation
nature of its business. given to us and records examined by us, the
Company is regular in depositing with
(c) On the basis of our examination of the records appropriate authorities undisputed statutory
of inventory, we are of the opinion that the dues including Provident Fund, Employees
company is maintaining proper records of State Insurance, Income Tax, Sales Tax,
inventory. The discrepancies noticed on Wealth Tax, Service Tax, Customs Duty,
verification between the physical stocks and Excise Duty, Cess and other material
the book records were not material. statutory dues applicable to it.

III) The company has neither granted nor taken any (b) According to the information and explanation
loans secured or unsecured to/from companies, given to us, no undisputed amounts payable
firms or other parties, which are covered in the in respect of Income Tax, Wealth Tax, Service
register maintained under Section 301 of the Tax, Sales Tax, Customs Duty, Excise Duty
Companies Act, 1956 during the year. and Cess were in arrears, as at 31st March
2010 for a period of more than six months
IV) In our opinion and according to the information from the date they became payable.
and explanations given to us, there are adequate
internal control procedures commensurate with (c) A c c o r d i n g t o t h e i n f o r m a t i o n a n d
the size of the Company and the nature of its explanations given to us , there are no dues of
business with regard to purchases of inventory, Income Tax, Wealth Tax, Service Tax,
fixed assets and with regard to the sale of goods Customs Duty, Excise Duty and Cess, Sales
and services. During the course of our audit, we Tax which have not been deposited with the
have not observed any continuing failure to appropriate authorities on account of any
correct major weaknesses in internal control dispute.
system.
X. The Company does not have any accumulated
V. (a) According to the information and explanations losses at the end of the financial year. The
given to us, we are of the opinion that the Company has not incurred cash losses during
particulars of contracts or arrangements that the year covered by our audit and in the
need to be entered into the register immediately preceding financial year.
maintained under section 301 of the
Companies Act,1956 have been so entered.

68

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

XI. The Company has not taken any loans from XVII. According to the information and explanations
Financial Institutions/Banks or has not issued given to us and on an overall examination of the
any debentures during the year. Balance Sheet of the Company, we report that
no funds raised on short-term basis have been
XII. The Company has not granted any loans and used for long-term investment.
advances on the basis of security by way of
pledge of shares, debentures and other XVIII. The Company has not made any preferential
securities. allotments of shares to the parties and
companies covered in the register maintained
XIII. The Company is not a chit fund, nidhi, mutual under Section 301 of the Companies Act, 1956
benefit fund or a society, therefore the provision and hence provisions of Clause (xviii) of para 4
of Para 4(xiii) of the order are not applicable. of the order are not applicable.

XIV. In our opinion, the Company is not dealing in or XIX. The Company has not issued any debentures,
trading in shares, securities, debentures and during the year.
other investments. Accordingly, the provisions
of clause 4(xiv) of the order are not applicable to XX. During the year covered by our audit, the
the Company. Company has not raised any money by way of
public issue.
XV. In our opinion, the Company has not given any
guarantee for any loans taken by any other XXI. To the best of our knowledge and belief and
Companies from Banks or Financial according to the information and explanation
Institutions. given to us, no material fraud on or by the
Company, was noticed or reported during the
XVI. The Company has not obtained any long term year.
loan during the year under audit.

Place : Coimbatore For RJC ASSOCIATES
Date : 29.04.2010 Regn. No. : 003496S
Chartered Accountants

R. JAYACHANDRAN
Partner
Membership No.021848

69

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Balance Sheet as at 31st March 2010 (Rs. In Million)

PARTICULARS Sch.No. 31.03.10 31.03.09

I SOURCES OF FUNDS 1 0.900 0.900
2 270.901 220.199
1) Shareholders' Funds: 271.801 221.099
a) Capital 3
b) Reserves and Surplus 4 - -
- 25.000
2) Loan Funds: - 25.000
a) Secured Loans
b) Unsecured Loans (4.374) 0.925

3) Deferred Tax Liability / (Assets) 5 267.427 247.024

Total 6 37.626 28.791
7 8.338 4.721
II APPLICATION OF FUNDS 8
29.289 24.070
1) Fixed Assets: 9 0.034 1.195
a) Gross Block
b) Less: Depreciation - -
c) Net Block
d) Capital Work in progress 101.492 98.360
116.724 122.082
2) Investments 138.099
81.368
3) Current Assets, Loans & Advances 0.827 0.028
93.926
a) Inventories 451.067 50.333
352.171
b) Sundry Debtors 127.140
85.822 94.977
c) Cash and Bank balances 35.434
212.963 130.412
d) Other Current Assets
238.104 221.759
e) Loans and Advances
267.427 247.024
(A)

Less: Current Liabilities and Provisions

a) Liabilities

b) Provisions

(B)

Net Current Assets (A-B)

Total

The Schedules referred to above and the Accounting Polices and Notes thereon form an integral part of this Balance Sheet.

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ HARJEET SINGH WAHAN For RJC ASSOCIATES
Chairman Managing Director Regn. No. : 003496S
Chartered Accountants
Place: Coimbatore
Date : 29.04.2010 R. JAYACHANDRAN
Partner
Membership No.021848

70

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Profit and Loss Account For The Year ended 31st March 2010
(Rs. In Million)

PARTICULARS Sch.No. 31.03.10 31.03.09

INCOME (A) 10 929.040 794.056
Gross Sales 11 42.694 57.599
Less : Excise Duty (B)
(A-B) 12 886.346 736.457
Net Sales 13
(C) 14 2.169 0.398
Other Income (A-B-C) 4.040 (2.992)
Interest (Expenditure) / Income
892.555 733.863
Total Income
542.109 485.635
EXPENDITURE 113.491 88.076
135.523
Materials Consumed 129.108
Salaries, Wages, Bonus, Gratuity, etc 3.617 2.722
Other Expenses
Depreciation 794.740 705.541

Total Expenditure 97.815 28.322

PROFIT BEFORE TAX & 21.013 -
EXTRA-ORDINARY ITEMS
76.802 28.322
EXTRA-ORDINARY ITEMS
31.400 9.100
PROFIT BEFORE TAX & AFTER - 1.790
EXTRA-ORDINARY ITEMS 0.525
(5.300)
Provision for Income Tax 16.907
Provision for Fringe Benefit Tax 50.702
Deferred Tax Liability / (Asset) 21.292
38.199 -
PROFIT AFTER TAX -
38.199
Balance Brought Forward 88.901
-
PROFIT AVAILABLE FOR APPROPRIATION - -
- -
APPROPRIATIONS - -
Dividend - Interim - 38.199
Proposed Dividend 88.901
Dividend Tax 38.199
Transfer to General Reserve 88.901
Balance Carried to Balance Sheet

TOTAL

Earnings per share ( In Rs.) ( In Rs.)
Nominal Value of Share 10.000 10.000
Basic
Diluted 563.355 187.850
- -

The Schedules referred to above and the Accounting Polices and Notes thereon form an integral part of this Profit and Loss Account.

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ HARJEET SINGH WAHAN For RJC ASSOCIATES
Chairman Managing Director Regn. No. : 003496S
Chartered Accountants

Place : Coimbatore R. JAYACHANDRAN
Date : 29.04.2010 Partner
Membership No.021848

71

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Schedules To Balance Sheet and Profit and Loss Account

as at 31st March 2010 (Rs. In Million)

PARTICULARS 31.03.10 31.03.09

1. SHARE CAPITAL

AUTHORISED CAPITAL 1.000 1.000
1,00,000 Equity Shares of Re.10/- each 1.000 1.000

ISSUED, SUBSCRIBED AND PAID UP CAPITAL

FULLY PAID UP 0.900 0.900
90,000 Equity Shares of Re.10/- each 0.900 0.900
issued and subscribed
(All the shares are held by M/s Elgi Equipments Ltd, the
holding company and its nominees)

2. RESERVES AND SURPLUS

SHARE PREMIUM 180.000 180.000
General Reserve 2.000 2.000

SURPLUS 88.901 38.199
Balance in Profit and Loss Account 270.901 220.199

3 SECURED LOANS - -

4 UNSECURED LOANS - 25.000
From Corporates - Holding company - 25.000

5. DEFERRED TAX LIABILITY / (ASSETS) 0.925 0.400
Opening Balance
Add / Less - for the Year (5.710) 0.525
Asset 0.410 -
Liability
(4.374) 0.925
6. FIXED ASSETS
(Rs. In Million)

GROSS BLOCK DEPRECIATION NET BLOCK

Description of As During the year As As During the year As As As
Assets
at at at at at at

01/04/09 Additions Deductions 31/03/10 01/04/09 Additions Deductions 31/03/10 31/03/10 31/03/09

Buildings 0.114 0.972 - 1.086 0.015 0.071 - 0.085 1.001 0.100
7.529 0.004 28.785 2.318 2.266 - 4.584 24.201 18.942
Plant & Machinery 21.260 0.006 0.068 0.001 0.164 0.304 0.377
- 0.011 0.468 0.097 0.467 0.002 1.615 1.853 1.977
Electrical Fittings 0.474 0.351 3.467 1.149
-
Furniture & Office 3.127 0.005 -
Equipments -
0.003
Canteen Equipments 0.475 8.857 0.001 0.479 0.059 0.080 - 0.139 0.340 0.416
9.175 - 3.341 1.082 0.668 1.751 1.590 2.258
Intangible Assets 3.341
Tech Knowhow

Grand Total 28.791 0.022 37.626 4.720 3.620 8.338 29.288 24.070
- 28.791 1.999 2.722 4.721 24.070 17.616
Previous Year 19.616

72

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Schedules To Balance Sheet and Profit and Loss Account

as at 31st March 2010 (Rs. In Million)

PARTICULARS 31.03.10 31.03.09

7. INVESTMENTS (AT COST) --

8. CURRENT ASSETS, LOANS AND ADVANCES 32.870 29.867
10.848 8.091
a) INVENTORIES 56.414
Raw Materials and Components 59.543
Work-in-progress 0.133 0.065
Finished Products 1.226 0.794
Consumables Spares and Stores 101.492
Loose tools 98.360
14.569
b) SUNDRY DEBTORS 102.155 18.097
(Unsecured and considered good) 116.724 103.985
Debts outstanding for a period exceeding 6 months 122.082
Other Debts 0.127
80.000 0.227
c) CASH AND BANK BALANCES 30.000
Cash on Hand 57.973
Fixed Deposits 138.099 51.142
Balances with Scheduled Banks 81.368
-in Current Accounts 0.827
0.028
d) OTHER CURRENT ASSETS
- Interest Accrued (2.337) 4.505
31.122 10.276
e) LOANS AND ADVANCES
(Unsecured and considered good) 0.667 0.513
Advances recoverable in cash or in kind or for 61.601 33.667
value to be received.
1.927 1.372
Due from Holding Company 0.945 -
Others 93.926
50.333
Prepaid Expenses 22.786
Advance Payment of Income Tax 13.317
Security and Other Deposits 19.911
Income/Refund receivable 73.665 11.566
10.779 62.003
9. CURRENT LIABILITIES AND PROVISIONS 127.140
8.091
a) CURRENT LIABILITIES 52.340 94.977
Acceptances 2.769
Sundry Creditors 20.940
Micro, Small and Medium Enterprises 30.713 2.769
Others 85.822 11.725
Advance and Deposits from Customers and Others
35.434
b) PROVISIONS
Provision for Taxation
Provision for Fringe Benefit Tax
Provision for Employee Benefits

73

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Schedules To Balance Sheet and Profit and Loss Account

as at 31st March 2010 (Rs. In Million)

PARTICULARS 31.03.10 31.03.09

10. OTHER INCOME 0.510 0.007
Profit on Sale of Assets 1.539 0.345
Others 0.121 0.046
Gain on Exchange Fluctuation 2.169 0.398

11. INTEREST (EXPENDITURE)/INCOME 1.954 1.161
Interest Receipts 1.954 1.161
(2.086) 4.153
Less: Interest Expenditure 4.040 (2.992)
Others

12. MATERIALS CONSUMED:

Opening Stock

- Raw Materials 29.867 40.132
8.091 10.033
- Semi-Finished Products 75.476
59.543 125.641
- Finished Products 97.501 457.495
544.741
Opening Stock (A)

Purchases (B)

Closing Stock

-Raw Materials 32.870 29.867
10.848 8.091
-Semi-Finished Products 56.414
100.132 59.543
-Finished Products 542.109 97.501
485.635
Closing Stock (C)

Materials Consumed (A+B-C)

(Material consumed includes Machining

Charges of Rs.10.313 million)

13. SALARIES, WAGES, BONUS, GRATUITY ETC., 70.639 65.917
Salaries and Wages 0.845 0.899
Bonus -
Performance Pay 19.000 3.400
Profit Share 4.510 2.461
Gratuity 2.560 4.568
Contribution to PF and other Funds 4.940 4.074
Managing Director's Remuneration 4.074 6.757
Welfare Expenses 6.923
88.076
113.491

74

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Schedules To Balance Sheet and Profit and Loss Account

as at 31st March 2010 (Rs. In Million)

PARTICULARS 31.03.10 31.03.09

14. OTHER EXPENSES 4.311 4.293
4.165 4.270
Consumption of Stores spares 0.247 0.957
Power,Fuel & Lighting 3.717 3.246
Factory Expenses
Tools Consumed 2.988 1.729
Repairs and Maintenance of 2.334 3.073
0.015 0.079
-Building 1.403 1.552
-Machinery 1.001 1.250
-Vehicles 0.158 0.174
-Other Assets 1.920 1.726
Rent 2.076 2.724
Rates & Taxes 18.801 20.851
Printing & Stationery 0.051 0.093
Postage & Telephones 0.386 0.572
Travelling & Conveyance 3.479 3.646
Subscription, Periodicals & Filing Fees
Insurance 0.160 0.098
Legal and Professional Charges 0.009 0.030
Auditors' Remuneration 7.922 6.703
- Audit Fees 12.315 14.601
-Other Services 6.696 1.465
Miscellaneous Expenses 0.040 0.040
After Sales Expense 1.225 4.895
Research & Development Expenses 10.629 11.752
Directors' Sitting Fees 18.779 15.402
Advertisement & Publicity 24.960 17.145
Transport Charges 0.070 0.094
Packing Material 1.271 1.270
Commission & Discount 0.016
Royalty Payment - 0.349
Sales Tax Payments 2.406 3.962
Service Tax Payments 0.562
Bad Debts Written off 0.013 -
Excise Duty Payments 1.413 1.052
Assets Condemned & Written-Off 135.523 129.108
Bank Charges

75



ANNUAL REPORT 2009-10 ATS ELGI LIMITED

c. Leave Salary: Liability for leave encashment borrowings and other short term and long
has been provided as per actuarial valuation. term borrowings.

d. Gratuity: The Company operates a defined b) Amortization of ancillary costs incurred in
benefit plan for the payment of post connection with the arrangement of
employment benefits for its employees in the borrowings.
form of gratuity fund scheme managed by LIC
of India. The expense is recognized based on c) Finance charges in respect of assets
the present value of obligation determined in acquired under finance leases or under other
accordance with AS-15 (R) on "Employee similar arrangements.
Benefits".
d) Exchange differences arising from foreign
e. Other Short term employee benefits: All currency borrowings to the extent that they
the short term employee benefits such as are regarded as an adjustment to interest
profit Sharing etc are measured and costs.
provided on actual basis.
10) Deferred Tax
9) Borrowing Cost Deferred Tax liability/assets are accounted for in
Borrowing cost includes: respect of all timing differences as per AS 22.
a) Interest and Commitment charges on bank

B. NOTES ON ACCOUNTS

1) Estimated amount of contracts remaining to be executed on capital account and not provided for is: Nil.
(Previous year: Rs.Nil)

2) Contingent Liabilities not provided for

Particulars 31.03.2010 31.03.2009

(Rs. In Million) (Rs. In Million)

a) Guarantees and Letter of Credit 22.704 12.211

3) Claims against the company not acknowledged as debts. Rs.Nil (Previous year: Rs.Nil)

4) As per the profit share scheme available only to employees below the level of officers, a sum of Rs.4.510 million
towards profit share has been provided under the head of Salaries, wages, bonus and gratuity (Previous year
3.400)

5) The Company has been exempted by the Ministry of Corporate Affairs vide its order No:46 /51/2010 - CL - III
Dt. 12.04.10 from furnishing information under Section 211, paras 3 (i)(a) and 3 (ii)(a) of part II of Schedule
VI of the Companies Act, 1956 for the year 2009-10.

6) Balances in the accounts of Sundry Debtors, Sundry Creditors, Security and Other Deposits have been
reconciled wherever letters of confirmation have been received.

7) Micro, Small and Medium Enterprise under the Micro, Small and Medium Enterprises Development Act, 2006
have been determined based on the information available with the Company and the required disclosures
are given below:

Particulars 31.03.10 31.03.09
(Rs. In Million) (Rs. In Million)
a Principal amount due to suppliers under the act
b. Interest accrued and due to Suppliers on the above 19.911 11.566
Nil Nil
amount (other than Section 16)
c. Interest paid to suppliers under the Act,(Section 16) Nil Nil
d. Interest due & payable for delay (for payments during Nil Nil

year beyond due date) Nil Nil
e. Payment made to suppliers (Other than interest) beyond
Nil Nil
the appointed day, during the year
f. Interest accrued and remaining unpaid at end of year Nil Nil

to suppliers under the Act
g. Interest due and payable to suppliers under the Act

for payments already made

Note: This information has been given in respect of vendors to the extent they could be identified as "Micro, Small
and Medium enterprises" on the basis of information available with the Company.

77

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

8) Warranty claims and liability towards free replacements to be made by the Company are provided for in the
accounts.

9) Employee Benefits:

The Company has adopted the Revised Accounting Standard 15 in respect of defined benefit plan ( Gratuity )

I PRINCIPAL ACTUARIAL ASSUMPTIONS Gratuity (Funded) Gratuity (Funded)
[Expressed as weighted averages] (Rs. In Million) (Rs. In Million)
31.03.2009
31.03.2010
7.90%
Discount Rate 8.50% 6.50%
Salary escalation Rate 8.00% 3.00%
Attrition rate 3.00% 9.00%
Expected rate of return on Plan Assets 9.15%
In the following tables, all amounts are in Rupees, 9.443
unless otherwise stated 0.784
0.964
II CHANGES IN THE PRESENT VALUE OF THE OBLIGATION (PVO) - 9.458
RECONCILIATION OF OPENING AND CLOSING BALANCES: 0.658 -
PVO as at the beginning of the period 1.077 -
Interest Cost -
Current service cost - (1.734)
Past service cost - (non vested benefits) - 9.458
Past service cost - (vested benefits) (2.254)
Benefits paid 1.221 0.574
Actuarial loss/(gain) on obligation (balancing figure) 10.161 0.361
PVO as at the end of the period 6.885

III CHANGES IN THE FAIR VALUE OF PLAN ASSETS - 7.696 -
RECONCILIATION OF OPENING AND CLOSING BALANCES: 0.695 (0.124)
Fair value of plan assets as at the beginning of the period 2.303
Expected return on plan assets (2.254) 7.696
Contributions 0.092
Benefits paid 8.533 0.361
Actuarial gain/(loss) on plan assets [balancing figure] (0.124)
Fair value of plan assets as at the end of the period
0.238
IV ACTUAL RETURN ON PLAN ASSETS 0.695
Expected return on plan assets 0.092 1.734
Actuarial gain (loss) on plan assets 0.787 (0.124)
Actual return on plan assets (1.610)
(1.610)
V ACTUARIAL GAIN / LOSS RECOGNISED (1.221)
Actuarial gain / (loss) for the period - Obligation 0.092 -
Actuarial gain / (loss) for the period - Plan Assets 1.129
Total (gain) / loss for the period 1.129 9.458
Actuarial (gain) / loss recognized in the period - 7.696
Unrecognised actuarial (gain) / loss at the end of the year 1.762

VI AMOUNTS RECOGNISED IN THE BALANCE SHEET 10.161 -
AND RELATED ANALYSES 8.533 -
Present value of the obligation 1.628 1.762
Fair value of plan assets -
Difference -
Unrecognised transitional liability 1.628
Unrecognised pas service cost - non vested benefits
Liability recognized in the balance sheet

78

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

VII EXPENSES RECOGNISED IN THE STATEMENT OF PROFIT AND LOSS: 0.964
0.784
Current service cost 1.077 (0.361)
(1.610)
Interest Cost 0.658
-
Expected return on plan assets (0.695) -
-
Net actuarial (gain)/loss recognised in the year 1.129 (0.223)
3.101
Transitional Liability recognised in the year - 2.878

Past service cost - non vested benefits - 8.869
(0.223)
Past service cost - vested benefits - (6.885)

Total 2.169 1.762

Add: Transferred from Elgi Equipments ( on demerger) net of opening liability - 9.458
7.696
Expenses recognised in the statement of Profit and Loss 2.169 (1.762)
1.734
VIII MOVEMENTS IN THE LIABILITY RECOGNISED IN THE 1.762 (0.124)
BALANCE SHEET 2.169
Opening net liability (2.303) -
Expenses as above 1.628 -
Contribution paid -
Closing net liability -
-
IX AMOUNT FOR THE CURRENT PERIOD 10.161 -
Present Value of obligation 8.533 100.00%
Plan Assets -
Surplus (Deficit) (1.628) 100.00%
Experience adjustments on plan liablities - (loss)/gain (0.479)
Experience adjustments on plan assets -(loss)/gain
0.092

X MAJOR CATEGORIES OF PLAN ASSETS (AS PERCENTAGE -
OF TOTAL PLAN ASSETS) -
Government of India Securities -
State Government Securities -
High Quality Corporate Bonds -
Equity shares of listed companies -
Property 100.00%
Special Deposit Scheme -
Funds managed by insurer 100.00%
Others (to specify)
Total

10) Managing Directors' Remuneration: 31.03.2010 31.03.2009
(Rs. In Million) (Rs. In Million)
Computation of Net Profits & Managing Director's
Remuneration as per Section 349 read with Section
309(5) of the Companies Act, 1956

Net profit as per P&L account before extra-ordinary item 5.854 97.815 3.634 28.322
Add: - -
MD Remuneration 5.894 3.674
Directors Remuneration 0.040 103.710 0.040 31.996
Sitting Fees
0.510 0.510 0.008 0.008
Total - - 31.988
Less:
Capital profit on sales of assets 1.599
Profit on sale of Investments 3.634
2.035
Net Profit u/s 198 103.200
Maximum remuneration payable to MD @5% 5.160
Remuneration Actually Paid 5.854
Excess Remuneration (Refer Note Below) 0.694

79

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Note: For the above amount of Rs.0.694 Million being the amount paid in excess of the limit prescribed under Sec.309
of Companies Act Central Government approval is being applied. Pending receipt of such approval the aforesaid
amount will be held by him under trust.
b)

Particulars 31.03.2010 31.03.2009
(Rs. In Million) (Rs. In Million)

Salary 1.635 1.635
House Rent Allowance 0.491 0.491
Education Allowance 0.164 0.164
Special Allowance 0.984 0.984
Conveyance Allowance 0.196 0.196
Medical 0.164 0.164
Performance Pay 2.220
Total 5.854 -
(Total excludes contribution to PF/SAF) 3.634

Note: Provision of gratuity not considered since the amount is not ascertainable individually, under the LIC Group
Gratuity a cash accumulation scheme.

11) Expenditure in Foreign Currency: 31.03.2010 31.03.2009
(Rs. In Million) (Rs. In Million)
Particulars
1.375 0.882
Travelling Expenses 0.042 Nil
Testing Charges

12) CIF value of imports: 31.03.2010 31.03.2009
(Rs. In Million) (Rs. In Million)
Particulars
84.862 64.915
Raw Materials and Components Nil Nil
Capital Goods
Traded Goods 97.773 92.374

13) Earnings in Foreign Exchange calculated on FOB basis: 31.03.2010 31.03.2009
Particulars (Rs. In Million) (Rs. In Million)
Direct Exports
57.082 54.788

14) Raw materials and Stores Consumption: 31.03.2010 31.03.2009
(Rs. In Million) (Rs. In Million)
Particulars
% %
Imported 148.678 30
Indigenous 186.764 34 341.250 70
Total 359.656 66 489.928 100
546.420 100

15) Installed Capacity / Actual Production (Quantity in Numbers):

Particulars Installed Capacity Production Installed Capacity Production
Automotive Equipments 31.03.10 31.03.09
31.03.10 31.03.09
22000 17497
17408 22000

80

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

16) Turnover: 31.03.2010 31.03.2009
Particulars
Quantity Value Quantity Value
Automotive Equipments
(In Nos) (Rs. In Million) (In Nos) (Rs. In Million)

17882 886.346 17345 736.457

17) Earning Per Share: As on 31.03.2010 As on 31.03.2009
(Rs. In Million) (Rs. In Million)
Particulars
50.702 16.907
Net Profit 0.09 0.09
Weighted average Number of Shares Outstanding
Basic Earnings Per Share (in Rs) 563.36 187.85

18) Accounting Standards (AS) 18, Related Party Disclosures: (Rs. In Million)

Particulars Holding Company Associates Key Total Total
Management

Personnel

09-10 08-09 09-10 08-09 09-10 08-09 09-10 08-09
1.651 1.826 1.599 5.854 3.555 3.250
Purchase of goods 1.729 10.152 9.397 10.152
14.375 15.186 14.375
Sale of goods 9.397

Receiving of services 15.186

Interest

- Payments 0.486 4.181 0.486 4.181
- Receipts 0.454
Remuneration 0.454 5.854 3.634
2.668 0.320
3.634 4.505

Payables 2.337 0.331 0.320

Receivables 4.505
Advances

- Payable 25.000 25.000 25.000 25.000
- Paid 20.000 20.000

Note: Names of related parties and description of relationship

1. Holding Company Elgi Equipments Limited

2. Fellow Subsidiaries Adison Precision Instruments Manufacturing Company Limited
ELGI-GULF (FZE).
Elgi Equipments Zhejiang Limited (China).
Elgi Compressors Trading (Shanghai) Co.Ltd (China).
SA Belair - France

3. Associates a. Elgi Electric and Industries Limited
b. Elgi Ultra Industries Limited.
c. Treads direct Limited
d. Elgi Rubber Company Ltd
e. L.G.Balakrishnan & Bros Limited
f. Ellargi & Co.,
g. Elgi Services
h. L.G.Balakrishnan & Bros.

4. Key Management Personnel Dr.Jairam Varadaraj, Chairman
Mr.Harjeet Singh Wahan, Managing Director

19 Previous year Figures have been regrouped and re-classified wherever necessary to make them
comparable.

81

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Cash Flow Statement 31.03.2010 (Rs. In Million)
31.03.2009
Particulars

A.CASH FLOW FROM OPERATING ACTIVITIES 97.815 28.322
Net Profit Before Tax - -
Add: Transfer from Capital Reserve - -
Add: Prior Year Adjustments

97.815 28.322

Adjustments for: 3.617 7.058 2.722 7.105
Depreciation - 104.873 - 35.427
Finance Lease payments - -
Assets Condemned and Written off
(Profit)/Loss on sale of assets (0.510) (0.007)
Deferred Revenue expenditure - -
(Profit)/Loss on sale of Investments - -
(Profit)/Loss on sale of Auctionable claims - -
Bad debts written off
Interest and Bank Charges Paid 2.406 0.349
Dividend Received 3.499 5.202
Interest Received
- -
Operating Profit Before Working Capital Changes (1.954) (1.161)

Adjustments for: (41.439) 13.501 65.525 61.796
Trade and Other Receivables (3.132) 118.374 28.386 97.223
Inventories
Deferred Revenue Expenditure - Employees VRS Payment (21.013) -
Trade Payables 79.085 (32.115)

Cash Generated From Operations (3.499) (5202)
Interest Paid (27.934) (12.764)
Direct Taxes Paid
Net Cash From Operating Activities (A) (31.433) (17.966)
86.941 79.257

B.CASH FLOW FROM INVESTING ACTIVITIES

Purchases of Fixed Assets (B) (7.675) (10.280)
Sale of Fixed Assets 0.510 -
Purchase of Investments - -
Sale of Investments - -
Loans to Companies - -
Interest Received 1.954
Dividend Received - 1.161
Net Cash Used in Investing Activities -
(5.211)
(9.119)

C.CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Issue of Share Capital - -
- -
Share Premium (25.000) (20.000)
- -
Repayment of loans - Elgi - -
(25.000) (20.000)
Proceeds from short Term Borrowings 56.731 50.138
81.368 31.230
Dividend Paid 138.099 81.368

Net Cash Used in Financing Activities (C)

NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C)

OPENING BALANCE OF CASH AND CASH EQUIVALENTS

CLOSING BALANCE OF CASH AND CASH EQUIVALENTS

Note:Figures within Bracket denote Cash Outflow.

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ HARJEET SINGH WAHAN For RJC ASSOCIATES
Chairman Managing Director
Regn. No. : 003496S
Chartered Accountants

Place : Coimbatore R. JAYACHANDRAN
Date : 29.04.2010 Partner
Membership No.021848
82

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

Balance Sheet Abstract and Company's General Business Profile

I. Registration Details 014125
18
Registration No.
State Code 31.03.10
Balance Sheet Date

II.Capital raised during the year Nil
Nil
Public Issue Nil
Warrant conversion application money received Nil
Bonus issue
Private Placement

III.Position of mobilisation and deployment of funds (Amount In Thousand) 267,427.17
267,427.17
Total Liabilities
Total Assets 900
Sources of Funds: 270,901.17
Paid up capital
Reserves and Surplus 0.00
Secured Loan 0.00
Unsecured Loan (4,374.00)
Deferred Tax Liability
Application of Funds: 29,322.79
Net Fixed Assets 0.00
Investments
Net Current Assets 238,104.38
Miscellaneous Expenditure 0.00

IV.Performance of Company (Amount In Thousand) 892,556.30
815,753.81
Turnover
Total Expenditure 76,802.49
Profit/(Loss) before tax 50702.49
Profit/(Loss) after tax
Earning per share (Rs.) 563.36
Dividend Rate (%) 0

V.Generic Names of Three Principal Products of Company (as per Monetary Terms)

Item Code No.(ITC Code) 842519.10
Product Description Hydraulic Lift

For and on behalf of the Board "As per our report of even date"

Dr.JAIRAM VARADARAJ HARJEET SINGH WAHAN For RJC ASSOCIATES
Chairman Managing Director Regn. No. : 003496S
Chartered Accountants
Place: Coimbatore
Date : 29.04.2010 R. JAYACHANDRAN
Partner
Membership No.021848

83

ANNUAL REPORT 2009-10 ATS ELGI LIMITED

FACTORY & REGISTERED OFFICE, SUBSIDIARY OFFICE, BRANCH OFFICES AND FOREIGN OFFICES

FACTORY & REGISTERED OFFICE
Trichy Road, Singanallur, Coimbatore - 641005. India, Phone No: 91-422-2589555, Fax: 2573697, Email: [email protected]

SUBSIDIARY COMPANIES (DOMESTIC)
M/s. ATS ELGI LIMITED, Kurichy Private Industrial Estate, Kurichy, Coimbatore - 641021, India,

Phone No: 91-422-2672201-3/2589999, Fax: 91-422-2675446, Website: www.ats-elgi.com

M/s. ADISONS PRECISIONS INSTRUMENTS MFG. CO. LIMITED
ELGI Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005. India.

SUBSIDIARY COMPANIES (FOREIGN)

CHINA FACTORY : M/s. Elgi Equipments, (Zhejiang) Limited Address: Building 3 No.375, Huayan Road, Jiaxing Economic Development Zone
Jiaxing (ZHEJIANG), P.R.CHINA PHONE: +86 15001789005, Mob +86 13817163603

CHINA SHANGHAI OFFICE : M/s. Elgi Compressors Trading (SHANGHAI) Co, Ltd (Factory address) Room 402, No.19, Lane 1500
South Lianhua Road, Shanghai, China PHONE: +86 15001789005, Mob +86 13817163603 E-Mail: [email protected]

MIDDLE EAST Elgi Gulf FZE, Po Box 120695, Sharjah Airport International Free Zone
Sharjah, UAE Ph: +97165579970 Fax: +97165579980 Email: [email protected]

FRANCE : SA Belair, Zone Industrielle de Moutti-Sud-74540 Alby sur Cheran 323 946 624 RCS ANNECY

BRANCH OFFICES

AHMEDABAD "ELGI HOUSE" 2, Mill Officer's Colony, Behind La-Gajjar Chambers, (Old Reserve Bank) Opp. Times of India, Ashram Road,
AHMEDABAD - 380 009 Ph: +91-79-26583736,26581274 Fax:+91-79- 26587683

BANGALORE 15,16 Richmond Road, Bangalore - 560 025. Ph: 91-80-22240674, 22220296, 22122474 Fax: 91-80-22293274
BHOPAL Plot no. 4, Waibhav complex, Major shopping centre, Zone 1, MP nagar, Bhopal - 462011 Ph: 91-755-2578281, 2578317, 4273317 Fax: 91-755- 2578289

CHENNAI 100, Mahalingapuram main road, S4, 2nd floor, Apollo Dubai Plaza Nungabakkam, Chennai 34 Ph: +91-44 28172599 Fax: 91-44-28174699

COIMBATORE Singanallur, Coimbatore - 641005. Ph: 91-422-2589555 Fax: 91-422-2573697

HYDERABAD 1-8-611, Airport Plaza, Third Floor, Opp. Old Airport, Begumpet Road, Hyderabad - 500 016
Ph: 91-40-27764516, 27768226, 27768326 Fax: 91-40-27768327 E-mail: [email protected]

JAIPUR 602, Diamond tower, Purenichungi, Ajmer road, Jaipur - 302021 Ph: 91-141-2970120 Fax: 91-141-2970121

KOCHI 39/3973, Pallimukku, MG Road Ernakulam, Kochi - 682016. Ph: 91-484-2360155 Fax: 91-484-2351904

KOLKATTA II Floor, Parijaat Building, 24 A Shakespeare Sarani, Kolkatta - 700 017 Ph: 91-33-22834270, 22834271 Fax: 91-33-22834272

MUMBAI Plot No.48, Mathurdas Vassanji Road, Marol Co-op Industrial Estate, J.B.Nagar Post, Near Sakinaka, Andheri(East), Mumbai - 400 059
Ph: 91-22-42161000 Fax: 91-22-28591601

NEW DELHI 23, Shivaji Marg, New Delhi - 110 015. Ph: 91-11-25928593, 25153644, 25928095, 25175018 Fax: 91-11-25459375

PUNE White House ground floor, 388-A, 1/2240, Mumbai-Pune Road, Opp. Sandvik(Asia), Phugevadi Dapodi, Pune - 411 012
Ph: 91-20-27146776, 27148892, 27145289 Fax: 91-20-27146776 E-mail: [email protected]

TIRUCHENGODE / SALEM 4/2, Nandhini Complex, 1st Floor, Velur Road, Tiruchengode - 637 211 Ph: 91-4288-257137 Fax: 91-4288-257693

MADURAI Dealer Address: C/o Shree A, 195/75, SMG Complex, Chandragandhi Nagar, Bypass Road, Madurai 625010
Ph: 9790029029, Email: [email protected]

FOREIGN OFFICES

BANGLADESH Dealer Address: IFAD Enterprises Limited,Sonartori Tower, 15th & 16th Floor, 12, Biponon C/A, Dhaka-1000 Bangladesh.
Ph: 88-0173007775, +8802-9671453-7 Fax: 8802-8616148 E-mail : [email protected]

INDONESIA Dealer Address: C/o PT Esa Bina Utama, JL, Pangeran Jayakarta, No.117/B 43, Jakarta -10730, Indonesia
Ph: +62-21- 65090383 Fax: 6007066 E-mail: [email protected]

MALAYSIA Dealer Address: Sykt Lee Industries SDN BHD, Lot 73-75 Semambu Industrial Estate Kuantan, Pahang 25350, Malaysia
Ph: 00-60-95661011 E-mail: [email protected]

SRILANKA Dealer Address: Elgi Equipments Ltd., 441, SG Arcade, 2nd Floor, Sri Sangaraja Mawatha, Colombo-10
Ph: +94 11 2392425 , E-Mail: [email protected]

THAILAND Dealer Address: P.P.Parts Co. Ltd., 559/68 Thanapat Haus, Soi Chuenchit, Nonsee Road,Chongnonsee, Yannawa Bangkok 10120 Thailand
Ph: +66 22841081, Mob: +66 845558052, Fax: + 66 22841082 E-Mail: [email protected]

SOUTH AFRICA Elgi Equipments SA (Pty) Ltd. Resident office: P.O Box 14134, Farramere, Benoni
South Africa 1518, Mobile: +27 11 780765191 E-mail: [email protected]

KENYA Dealer Address: 4, Van Dyk Road, Nestadt Industrial Sites, Benoni R.S.A. C/o Holman Brothers (East Africa) Limited, P.O. Box 42044, Bunyala Road, Nairobi.
Tel: (+254-020) 550626, 558981,555388 Fax: (+254-020) 6530481 Cell: (+254) 710 272 528, 737 743 366 Email: [email protected], [email protected]

BRAZIL Dealer Address: AR Brasil Compressores Ltda, Av. Alta Mantiqueira 448, Pirituba, CEP: 05171.200 Sao Paulo, SP Brasil CNPJ: 62.029.426/0001-25
Ph: +55 11 5627 8887, Fax: +55 11 3904 8882 E-Mail: [email protected]

COLOMBIA Construaire Ltda, Cra.54 No.16-06, Puente Aranda, Bogota, COLOMBIA
Ph: 57-1-2614514 Ctct : Mr.Luis Antonio Diaz, E-MAIL: [email protected]

84